"The final step was to develop a method that produces consistent profits by trading market moves. This method turned out so simple that I first couldn't believe it" - Chicky
There's no magic formula. There's no magic system. There's no shortcut. If you want it you'll have to go get it - but beware it's not going to be a journey it's going to be a suffering like this simulation we're experiencing called "life".
Study the structure of price, pick any instrument pick any TF my suggestion 15m or 1h *chart is a chart so instead of looking at daily you want to look at 15m you'll learn things at a faster rate but don't go any lower than 15m at the beginning.
If you need to add 2-3 indicators to aid you, RSI few MAs. But don't go overboard with indicators. They're no HG. Don't be 100% dependent on them like a drug addict or a gambler. You need to learn to use them "to your advantage" and if you haven't got the foundation (market structure, market behavior) you won't be able to use them "the right way".
Learning to trade takes "a lot of time" " a lot of practice " - it's a marathon. So be prepared. Study market structure. "Structure""Behavior" is everything.
If you decide to trade 5m it wouldn't hurt to incorporate 15m 1h and 4h just in case, you always want to what's going on , on higher TFs they also work as potential S&R areas. Don't get married to one TF. You're going to be at disadvantage "some of the times" not always.
After all of these once you get a feel of market structure and market behavior you'll learn to dance along, it's going to be hard but keep trying - I know this may sound very vague but I just don't know any better ways to explain it to you. You'll find your own way. It's no copy paste business. And no business like that really. So being vague can actually be beneficial to you.
But first off - ask yourself seriously if you're really into this ?
Remember it's going to be a loooong suffering, if you're not so into it you might lack the perseverance to succeed.
Are you going to enjoy the challenges and setbacks ?
Know that you're not going to be rewarded AT ALL for the next 3-5 years.
No one will understand you not even your family.
It's a one man show.
Do you have what it takes ?
Ego won't help you in any way.
If you have gambling tendency walk away ASAP
And last point, if you really want it - take it seriously spend 3-4 hours or more if you can a day study historical data, see what catches your eye. Take note of everything. Screenshots. Keep referring back to those scenarios. Demo.Demo.Demo until you can consistently make some gains. If you're going to be casual, you may be better off without it. You'll need to make lots of sacrifice and commitment to make it as a full time trader.
There's no magic formula. There's no magic system. There's no shortcut. If you want it you'll have to go get it - but beware it's not going to be a journey it's going to be a suffering like this simulation we're experiencing called "life".
Study the structure of price, pick any instrument pick any TF my suggestion 15m or 1h *chart is a chart so instead of looking at daily you want to look at 15m you'll learn things at a faster rate but don't go any lower than 15m at the beginning.
If you need to add 2-3 indicators to aid you, RSI few MAs. But don't go overboard with indicators. They're no HG. Don't be 100% dependent on them like a drug addict or a gambler. You need to learn to use them "to your advantage" and if you haven't got the foundation (market structure, market behavior) you won't be able to use them "the right way".
Learning to trade takes "a lot of time" " a lot of practice " - it's a marathon. So be prepared. Study market structure. "Structure""Behavior" is everything.
If you decide to trade 5m it wouldn't hurt to incorporate 15m 1h and 4h just in case, you always want to what's going on , on higher TFs they also work as potential S&R areas. Don't get married to one TF. You're going to be at disadvantage "some of the times" not always.
After all of these once you get a feel of market structure and market behavior you'll learn to dance along, it's going to be hard but keep trying - I know this may sound very vague but I just don't know any better ways to explain it to you. You'll find your own way. It's no copy paste business. And no business like that really. So being vague can actually be beneficial to you.
But first off - ask yourself seriously if you're really into this ?
Remember it's going to be a loooong suffering, if you're not so into it you might lack the perseverance to succeed.
Are you going to enjoy the challenges and setbacks ?
Know that you're not going to be rewarded AT ALL for the next 3-5 years.
No one will understand you not even your family.
It's a one man show.
Do you have what it takes ?
Ego won't help you in any way.
If you have gambling tendency walk away ASAP
And last point, if you really want it - take it seriously spend 3-4 hours or more if you can a day study historical data, see what catches your eye. Take note of everything. Screenshots. Keep referring back to those scenarios. Demo.Demo.Demo until you can consistently make some gains. If you're going to be casual, you may be better off without it. You'll need to make lots of sacrifice and commitment to make it as a full time trader.
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